“Re: Dinar/Dong Value?” by David Harkness – 12.12.21

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Entry Submitted by David Harkness at 5:19 AM EST on December 12, 2021

“Dinar/Dong Value?” by Chow – 12.11.21

Dear Fellow Chow,

I can fully understand your confusion with the reporting of the pricing .

So I would like to explain to you and many others the actual facts .

Firstly  I draw your attention to the following link.

http://www.floatrates.com/currency-usd.html

I draw you attention to the Kuwait Dinar in particular that has been revalued by the UN and relative Central  Banks .

It states I USD equates to Kuwait Dinar 0.303c  or I Kuwait Diner is 3.298

So  if you divide 1 USD into 3.298 = 0.303 USD     

So when they quote Dong  at street rate 2.30  no $sign  its 0.4694c USD .

What is confusing is the $ sign .

When they say Iraq Dinar is 4.18 this  0.263 USD .

These  are public rates expected to be declared 13 December 2021 pm time USA .

I have been informed  public rate for 1 Dong is close to 0.43c USD and Dinar 0.20c USD before commissions of about 6% to 7% charged by FX Dealers and banks involved ..

As for the contract rates for Dong they are 0.47c USD for 1 Dong and 20% paid in cash and balance 80% to humanitarian purposes approved that is tax free.

Public capital gains are taxable in the seller hands . 

Kind regards,

David Harkness

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